SEC, SOX & Compliance Programs
Candela Solutions works with companies to realize strong results through a SEC, SOX and Compliance Programs. We offer an array of services in the following areas:
Conquering the Regulatory Challenges of the SEC and SOX
Few companies like the inherent inefficiencies of governmental regulations, yet many would agree that some degree of business regulation is necessary. The reality is regulation is here to stay and public companies must stay in compliance to best serve shareholder interests. The challenge is finding that right balance of compliance so the company can reasonably mitigate the risks of adverse legal and regulatory actions, while staying focused on strategic and operational objectives.
In the United States, the primary regulatory body is the Securities and Exchange Commission (SEC). The SEC's mission is to protect investors, maintain fair, orderly and efficient markets, and facilitate capital formation. The SEC seeks to accomplish this through rules and regulations for public companies to provide a steady flow of timely, comprehensive, and accurate information. Candela Solutions works with companies to stay within the good graces of the SEC; including the Sarbanes-Oxley Act of 2002 (SOX). We understand and work with all aspects of SOX.
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Statistical Risk Assessments
Candela Solutions works closely with our strategic partner, Audit Integrity, to assess an entity's risk profile. The statistically driven approach in identifying risks allows our team to move past traditional consulting recommendations by providing insights and improvements to your business model. In conjunction with Audit Integrity, Candela Solutions provides statistically compelling evidence identifying risk areas in an entity's business model or on their publicly reported financial statements and disclosures.
Boards must know the top level risks to the entity's business model and continually need to "check the pulse" of their organization; the C-Suite needs to know what risks may be hidden from view today that can cause reputational and balance sheet problems tomorrow. Contact us to discuss preliminary diagnostics on your company. We can show you hidden risks today and help you design governance structures and controls to avoid problems tomorrow.
Beyond the Regulatory Environment
Compliance programs and strong controls provide the discipline to help ensure objectives are reached. We believe that no single legal regulation can successfully legislate ethics since there are always some employees who will not perform their professional duties in an ethical manner. The risk of fraud, compounded with the reality that virtually all employees and IT systems are prone to some degree of error, means it is prudent to have strong processes in place. While no system of controls can provide absolute assurance that error or fraud will not occur, sound compliance programs and controls will go a long ways towards combating these risks.
Strong compliance is a solid investment, as investors will often pay a premium for well-governed companies. Benefits include lower capital costs, reduced insurance premiums, decreased fraud risks, greater access to capital and stronger competitive positioning. Simply put, strong corporate compliance is good business.
